Xforce

TOKYO, Apr 8, 2026 - (JCN Newswire) - Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) announced that Mitsubishi Motors Malaysia (MMM), a subsidiary of Mitsubishi Motors in Malaysia, began sales of the Xforce compact SUV on April 8. Pre‑orders have surpassed the initial target of 2,000 units since opening on February 5, 2026.

Positioned as a new core model for the Malaysian market alongside the Xpander, the Xforce is locally produced at the Pekan plant in Pahang by HICOM Automotive Manufacturers (Malaysia) Sdn. Bhd., the contract manufacturing partner of MMM.

The Xforce is a five-seater compact SUV developed under the concept "Best-suited buddy for an exciting life." Following its launch in Indonesia in November 2023, the Xforce was introduced to other ASEAN countries such as Vietnam and the Philippines, as well as Latin America, Africa, and the Middle East. As one of Mitsubishi Motors’ global strategic models, it has earned praise for its stylish yet robust SUV design, offering a spacious and comfortable five-passenger cabin while maintaining a maneuverable, compact body size. In Malaysia, the Xforce continues to draw strong interest from a wide range of customers through its balance of urban practicality and SUV presence.

”Built on the trusted reliability and outstanding handling cultivated by Mitsubishi Motors, the Xforce aims to be a vehicle that supports a wide range of customer lifestyles,“ said Takashi Sakamaki, chief executive officer of MMM. ”From everyday driving to more active pursuits, the Xforce is designed to encourage challenge and adventure. We remain committed to delivering vehicles that respond to evolving customer needs with a strong focus on quality and customer satisfaction.”

TOKYO, Apr 8, 2026 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) and Algomatic Co., Ltd. won second prize at GENIAC-PRIZE,(1) a prize competition organized by Japan's New Energy and Industrial Technology Development Organization (NEDO), for a joint project centered on the theme of "Formalizing tacit knowledge in manufacturing."

MHI and Algomatic jointly submitted a proposal to formalize tacit knowledge by examining videos of expert and novice workers, using TIG welding(2) as an example. TIG welding is a high-quality welding method that underpins a wide range of MHI products, from energy plants to rockets. However, it is difficult to master, with quality and work time varying depending on the skill level of the welder, and skill transfer is an issue. The project proposal involved simply shooting and uploading videos of welding work conducted by expert and novice welders, and having an agent AI automatically analyze the difference. The optimal approach was selected from among multiple analysis modules to extract and illustrate differences in skills, including embodied knowledge, from multiple perspectives. The use of AI allows skills that are difficult to articulate to be systematically accumulated as explicit knowledge, while also enabling technical evaluation and feedback for less skilled welders.

In the manufacturing industry, experienced workers accumulate skills as tacit knowledge, and the communication and standardization of such knowledge has long been an issue. This project, by comparing the work of expert and novice welders, aims to elucidate embodied knowledge, and is expected to contribute to more efficient transfer of skills, and improve productivity in manufacturing. It is an important first step towards practical application of this technology in the future.

Based on its Innovative Total Optimization (ITO) corporate strategy, MHI is working to halve lead times and improve business productivity based on a concept of "overall optimization," while also establishing material targets for the growth strategy of each business from the perspective of domain expansion. Going forward, MHI will pursue the practical application of this technology, and contribute to the transfer of skills and productivity improvement in manufacturing.

(1) The GENIAC-PRIZE is a prize competition run by NEDO aimed at accelerating the real-world application of generative AI. A total of about 800 million yen is awarded under four themes of "Formalizing tacit knowledge in manufacturing", "Improving customer support productivity", "Development of generative AI to streamline administrative review tasks", and "Development of technologies for risk discovery and mitigation in generative AI". At the final judging and awards ceremony held on March 24, 2026, 42 projects were awarded prizes from more than 200 entries. See the following website for details.
https://geniac-prize.nedo.go.jp/(Japanese Only)
(2) Tungsten Inert Gas (TIG) welding is a type of arc welding using a tungsten electrode and an inert shielding gas such as argon.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com

APM for Hartsfield-Jackson Atlanta International Airport

TOKYO, Apr 7, 2026 - (JCN Newswire) - Crystal Mover Services, Inc. (CMSI), a part of Mitsubishi Heavy Industries (MHI) Group, has concluded a contract with the City of Atlanta, Department of Aviation, operator of Hartsfield-Jackson Atlanta International Airport in the United States, to renovate and upgrade the airport's Automated People Mover (APM) system,(1) ATL SkyTrain. The contract covers a ten-year period from March 2026 to March 2036.

CMSI provides operations and maintenance (O&M) services for airport APM systems in the United States. Given that more than 15 years have passed since MHI Group delivered Atlanta airport's APM system, this latest contract includes renewal of the signal system and various other devices and equipment, as well as additional vehicles and the replacement of existing vehicles.

Atlanta International Airport's APM system connects the main passenger terminal with the rental car center, with one intermediate station, extending a total length of approximately 2.2 kilometers. The line comprises a wholly elevated double-tracked guideway, functioning as crucial infrastructure for the airport, which has the highest passenger traffic in the world.(2) Since the start of commercial operation in December 2009, CMSI has provided O&M services 24 hours a day year-round, helping to ensure safety, reliability, and comfort. In December 2024, CMSI concluded a five-year O&M service renewal agreement for the airport, and continues to support the stable operation of the APM system.(3) In addition to CMSI's long-standing operational and maintenance track record and continuous efforts, MHI Group received this contract for renewal of the APM system equipment and facilities in recognition of its accumulated technical capabilities for the design, manufacturing, and construction of APM systems.

Going forward, MHI Group will continue to provide APM systems and O&M services that offer exceptional design, economic efficiency, and the capability to reduce CO2 emissions, contributing to improved transport convenience, solutions for local challenges, and the realization of a carbon-neutral world.

About Crystal Mover Services, Inc. (CMSI)

Since its founding in January 2009, CMSI has provided O&M services for all APM systems delivered by MHI Group to international airports in Miami, Washington Dulles, Atlanta, Orlando, and Tampa. CMSI contributes significantly to the safe and stable operation of the transportation systems serving these important hubs.

(1) APM systems are used worldwide to connect air terminals, or as transportation systems to serve areas near airports.
(2) Based on the 2024 rankings of the world's busiest airports from Airports Council International (ACI)
https://aci.aero/2025/04/14/the-busiest-airports-in-the-world-defy-global-uncertainty-and-hold-top-rankings/
(3) For more information on the renewal of the O&M contract for the Atlanta International Airport APM system received in 2024, see the following press release:
https://www.mhi.com/news/250327.html

CMSI Employees Supporting the Stable Operations of APM Systems

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com

NEW YORK, Apr 3, 2026 - (JCN Newswire) - Hitachi Rail has entered into a definitive agreement to acquire Clever Devices, a leading U.S. - based provider of Intelligent Transportation Systems for transit agencies around the world.

Clever Devices, headquartered in Woodbury, New York, is recognized for its pioneering, advanced technology solutions that enhance fleet management, passenger experience and operational efficiency for mass transit agencies. The company has offices located in the United States, Europe, and South America.

The proposed acquisition of a company with deep digital expertise and expected 2026 revenues of over $220 million, marks a significant step in Hitachi Rail’s strategy to operate as a leading global digital mobility player. Upon completion, the business will extend its footprint from rail to multimodal mobility and strengthen its presence in North America.

With over 600 employees and a customer base that includes 8 of the 10 largest North American transit agencies, Clever Devices brings a robust portfolio and a proven track record of innovation and delivery. Its Intelligent Transport System (ITS) solutions are a critical enabler to growing public transport usage, making it more attractive and efficient by improving accuracy of information and boosting service punctuality. Its solutions are deployed across public mobility, including busses, as well as railway systems. Alongside its strength in North America, Clever Devices has achieved substantial growth in countries such as Brazil and Chile, as well as in Europe in markets including Italy.

Clever Devices’ portfolio of onboard and centralized data solutions will complement Hitachi Rail’s HMAX Mobility suite, bringing added functionality and benefits for customers across public transport around the world.

HMAX Mobility is Hitachi Rail’s digital asset management platform that optimizes the performance of railways around the world. It connects data from fleets of trains, wayside signal ling assets, and track infrastructure to create an operational twin of railways. It brings together advanced sensor technology, deep rail expertise and the latest in AI and edge computing to maximize rail performance, extend asset life and optimize costs.

The acquisition will enable Hitachi Rail to offer enhanced solutions that support the digital transformation of public transport beyond railways, optimize energy management and contribute to the reduction of greenhouse gas emissions.

In the Smart Mobility space, combining Clever Devices’ fleet management technology with Hitachi Rail’s Operation Control Centres will enable real time multimodal solutions for urban public transport systems. This technology will enable connected and sustainable intermodal transport and support the transition to more sustainable and efficient transit systems.

Giuseppe Marino, Group CEO, Hitachi Rail, said: “This investment is an important milestone in our strategy to accelerate the digital transformation of public mobility. Clever Devices’ proven expertise in intelligent transportation systems, combined with our global scale and our HMAX Mobility platform, will allow us to offer our customers a suite of data - driven mobility solutions that optimize transport infrastructure and services. Together, we will expand our capabilities beyond rail and deepen our presence in North America, supporting cities as they transition to more innovative and efficient transport networks.”

Hitachi Rail’s growing footprint in the North American market has been underlined by the recent $110m opening of its digital lighthouse factory in Hagerstown, Maryland, and a CA $30m investment in a new Canadian HQ.

Hitachi Rail collaborated with SSIB, Hitachi’s Strategic Social Innovation Business Unit, on this agreement, to jointly advance the One Hitachi initiative and explore broader opportunities in the mobility sector. As a Hitachi Group company, Hitachi Rail’s pioneering technology also benefits from the digital expertise and capabilities of other group companies, including Hitachi Digital, GlobalLogic, and Hitachi Digital Services.

The transaction is subject to the satisfaction of customary conditions and is expected to close later in the year following the receipt of regulatory approvals. Hitachi Rail is being advised by J.P. Morgan and Ropes & Gray LLP in this transaction.

About Clever Devices

Total employees: 600 employees

Founded Around: 1987

Locations: Headquartered in New York, with offices across the US, Canada, Brazil and Italy.

Customers: Over 250 worldwide, including 8 of the 10 largest transit agencies in North America. Customers span public transport including bus, railway and paratransit operators

Revenues: Expected Revenues of over$220 million in 2026

Clever Devices’ Solutions: Fleet monitoring solutions including Automatic Vehicle Monitoring (providing single source of diagnostic information); Clever CAD (communications tool between operator and vehicles); Clever Works (maximizing integrity and efficiency of data); Electric Vehicle Management Solution Passenger facing solutions, including: Live bus time updates; Automated Voice Announcement; Clever Vision (real time information to passengers on board) As well as Safety and security; Business Intelligence; and Communications solutions

About Hitachi, Ltd.

Through its Social Innovation Business (SIB) that brings together IT, OT (Operational Technology) and products, Hitachi contributes to a harmonized society where the environment, wellbeing, and economic growth are in balance. Hitachi operates globally in four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – and the Strategic SIB Business Unit for new growth businesses. With Lumada at its core, Hitachi generates value from integrating data, technology and domain knowledge to solve customer and social challenges. Revenues for FY 2024 (ended March 31, 2025) totaled 9,783. 3 billion yen, with 618 consolidated subsidiaries and approximately 280,000 employees worldwide. Visit us at www.hitachi.com.

About Hitachi Rail

Hitachi Rail is committed to driving the transition to sustainable mobility and has a clear focus on partnering with customers to rethink mobility. Its mission is to help every passenger, customer, and community enjoy the benefits of more connected, smooth , and sustainable transportation. With a turnover of more than €7 billion and 24,000 employees in more than 50 countries, Hitachi Rail is a reliable partner for the world's best transport companies. The company's presence is global, but the company is local, with success based on developing local talent and investing in people and communities. Its international expertise and experience covers every part of urban ecosystems, main lines and freight railways, from high - quality production and maintenance of rolling stock to digital signalling, payment systems and smart operations. Hitachi Rail, famous for Japan's iconic high -speed train, leverages the digital and artificial intelligence expertise of Hitachi Group companies to accelerate innovation and develop new technologies. For more information, visit the hitachirail.com

TOKYO, Apr 2, 2026 - (JCN Newswire) - Japan Radio Co., Ltd. ("JRC"), SKY Perfect JSAT Corporation ("SKY Perfect JSAT"), and Sharp Corporation ("Sharp") will collaborate to develop and demonstrate a next-generation communications system in support of the Ministry of Defense (Japan) program titled "Development and Demonstration of Resilience-Enhancing Technologies for Multi-Orbit(1) Communications Systems", for which JRC was selected on February 4, 2026.

This solicitation is intended to enhance the resilience(2) and reliability of communications infrastructure, in light of expanding communications demand in the disaster prevention and defense domains and the growing need to secure stable communications under a variety of circumstances, including natural disasters and unforeseen events. It aims to build a next-generation communications system that leverages a combination of GEO, MEO and LEO satellites(3), and to enable multi-orbit operation by establishing control technologies that allow seamless switching among satellite links—where satellite communications are currently operated through separate systems optimized for each orbit.

During the project period through March 31, 2028, JRC will oversee overall project coordination, SKY Perfect JSAT will lead the development of a seamless communications network, and Sharp will primarily drive the development of a multi-orbit-capable satellite communications user terminal(4), as the three companies develop a communications system supporting multi-orbit operations across GEO, MEO and LEO satellites and validate improvements in communications network resilience.

Through this demonstration, the three companies will strive to improve communications reliability under various conditions, including disasters and emergencies, and will contribute to maintaining critical social functions and ensuring safety and security.

Outline of the Announcement Awarded to JRC

■ Company Profiles

Company Name: Japan Radio Co., Ltd.

Representative: Kaichiro Sakuma, Representative Director President and CEO

Head Office: NAKANO CENTRAL PARK EAST,10-1, Nakano 4-chome, Nakano-ku, Tokyo 164-8570, Japan

URL: https://www.jrc.co.jp/en/

Company Name: SKY Perfect JSAT Corporation

Representative: Eiichi Yonekura, Representative Director, President and CEO

Head Office: Akasaka Intercity AIR, 1-8-1 Akasaka, Minato-ku, Tokyo 107-0052, Japan

URL: https://en.skyperfectjsat.space/

Company Name: Sharp Corporation

Representative: Tetsuji Kawamura, President and Executive Officer, CEO

Head Office: 2-1-25 Kyutaromachi, Chuo-ku, Osaka-shi, Osaka 541-8522, Japan

URL: https://global.sharp/

(1) Multiple types of satellite orbits in which artificial satellites operate, such as geostationary, medium, and low Earth orbits.
(2) The ability to maintain function and ensure stable use by providing alternative means or rapid recovery in the event of unexpected incidents.
(3) Abbreviations for Geostationary Orbit, Medium Earth Orbit, and Low Earth Orbit.
(4) A terminal integrating components such as a satellite communication antenna and modem functions.

HIROSHIMA, Japan, Apr 2, 2026 - (JCN Newswire) - At the 2026 World Car of the Year Awards hosted by the World Car Awards (WCA), Mazda EZ-6/Mazda6e from Mazda Motor Corporation (Mazda) won the 2026 World Car Design of the Year (WCDOTY), one of the special awards. This marks the third time a Mazda model has earned this award, following the Mazda Roadster (known overseas as the Mazda MX-5) in 2016 and the Mazda3 in 2020.

The awards were officially launched in January 2004 with automotive journalists around the world. For the 2026 award, the winner was selected from ninety eligible models through votes cast by 98 automotive journalists worldwide. The final results were announced by the World Car Awards (WCA) on April 1st local time in New York, USA.

MAZDA 6e (European specification model)

The Mazda EZ-6/Mazda6e represents a new challenge in Mazda’s journey toward electrification, pursuing both preservation and innovation of the distinctive design that Mazda has cultivated over the years. Under Mazda’s design theme, “KODO — Soul of Motion,” and based on the concept of “Authentic Modern,” the model combines vibrant, life-inspired forms with a sense of advanced modernity befitting a battery electric vehicle (BEV), while achieving a beautifully proportioned coupe silhouette. Through sculptural forms and meticulous craftsmanship created by the human hand, Mazda has delivered a design that continues to offer the joy of driving and moving mobility experience even in the era of electrification.

The Mazda EZ-6 is a BEV launched in China in October 2024. It combines Mazda’s signature design and Jinba-ittai driving performance – the oneness between man and machine - with the electric and smart technologies of its collaborative partner*1 . The Mazda6e was developed based on the Mazda EZ-6 with further refinement to meet the driving performance and functionality needs of each market. It went on sale in Europe in September 2025, and plans are in place to introduce the model also in Australia, ASEAN, and other regions in 2026 as Mazda intends to respond to the growing demand for BEV in these markets.

Mazda will continue to pursue the “Joy of Driving” under its core value of “Radically Human,” and aim to deliver the “Joy of Living” by creating moving mobility experiences in our customers' daily lives.

*1 Chongqing Changan Automobile Co., Ltd.

TOKYO, Japan, Apr 1, 2026 - (JCN Newswire) - Honda Motor Co., Ltd. (Honda) today announced that it has subscribed to new shares of Gachaco, Inc. (Gachaco) issued through a third-party allotment (“this transaction”), thereby making Gachaco a consolidated subsidiary of Honda.

Gachaco was established in April 2022 as a joint venture of five companies in Japan — Honda, ENEOS Holdings, Kawasaki Motors, Ltd., Suzuki Motor Corporation and Yamaha Motor Co., Ltd. — to provide a sharing service of standardized swappable batteries for electric motorcycles and to establish and maintain infrastructure for such sharing services.

Since October 2022, Gachaco has been installing Gachaco battery swapping stations primarily in Tokyo, where electric motorcycle users with a Gachaco membership can efficiently swap a depleted battery for a fully charged one whenever needed, without any waiting time for charging. The company has rolled out the service in urban areas of Tokyo, starting with corporate customers and, in January 2024, the service was expanded to individual customers as well. Gachaco has been building out its infrastructure to create an environment where anyone can use electric motorcycles without worrying about charging time and riding range. Currently, the company is expanding its network of Gachaco stations, primarily in Tokyo and Osaka, while also pursuing the establishment of a next-generation energy infrastructure that contributes to a decarbonized and circular society.

Honda is striving to achieve carbon neutrality for all products and corporate activities Honda is involved in by 2050, and one of the key initiatives toward this goal is the popularization of electric mobility products. In addition to expanding the lineup of electric models, Honda believes that it is important to build battery charging and supply networks so that people can use their electric motorcycles with peace of mind; therefore, Honda has been considering Gachaco as an important partner for realizing such a future. Going forward, in order to continue to enhance the usage environment for electric motorcycle products, Honda realized that a motorcycle manufacturer needs to take the lead in this initiative. Based on this reasoning, Honda has decided to acquire additional shares in Gachaco.

As a subsidiary of Honda, Gachaco will further accelerate its ongoing initiatives to build battery charging and supply networks and work to expand its battery sharing service for users of electric construction machinery and equipment powered by swappable batteries. In addition, Gachaco will work to offer rental and maintenance services for battery swapping stations to be installed on the premises of business facilities of corporate customers with large fleets of electric motorcycles. Through these initiatives, Honda will lead the growth of Gachaco business and establish an environment where more customers can use electric mobility products safely with complete peace of mind.

Overview of the transaction

About Gachaco

*ENEOS Holdings, Inc. has invested in Gachaco through its investment company, ENEOS Innovation Partners Godo Kaisha

Gachaco station

KARIYA, JAPAN, Apr 1, 2026 - (JCN Newswire) - DENSO CORPORATION, a leading mobility supplier, held the “Mid-Term Management Plan Briefing: DENSO DIALOG DAY 2026” (hereinafter, “Dialog Day”) on March 31, 2026.

At the briefing, DENSO provided an overview of its Mid-Term Management Plan “CORE 2030” (hereinafter, “CORE 2030”), which was announced on the same day. Shinnosuke Hayashi, President & CEO, Yasushi Matsui, Executive Vice President, and Yasuhiko Yamazaki, Executive Vice President explained DENSO’s vision for 2030 and the strategies, while also engaging in direct dialogue with investors, analysts, and the media.

Through presentations and opportunities for dialogue, DENSO will continue to communicate the strategies set out in “CORE 2030” more concretely and work together with society, customers, and partners to create new value.

For details of “CORE 2030,” please refer to the timely disclosure material announced on March 31, 2026, as well as the briefing materials, and Mid-Term Management Plan page on the corporate website.

- Timely Disclosure Material
Notice Regarding the Formulation of the Mid-Term Management Plan “CORE 2030” (March 31, 2026)
- Briefing
Materialshttps://www.denso.com/global/en/about-us/investors/business-briefing/
- Corporate Website: Mid-Term Management Plan “CORE 2030”
https://www.denso.com/global/en/about-us/corporate-info/policy/mid-term_management_plan2030/

Speech by Shinnosuke Hayashi, President & CEO

Dialogue Session
From left: Hirotsugu Takeuchi, Senior Executive Officers and Chief Technology Officer (CTO) Yasushi Matsui, Executive Vice President
Shinnosuke Hayashi, President & CEO
Yasuhiko Yamazaki, Executive Vice President

For more information, visit https://www.denso.com/global/en/news/newsroom/2026/20260401-g03/.

TOKYO, Apr 1, 2026 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) announced that, as previously disclosed on November 7, 2025 announcement(1) and the February 10, 2026 announcement(2), MHI had entered into a legally binding agreement to transfer its domestic onshore wind power business (Target Business) to Electric Power Development Co., Ltd. (J-Power). We are pleased to inform you that the transfer procedures have been completed as of April 1.

This transfer of the Target Business—including engineering and after-sales services, but excluding certain continuing businesses, such a joint business with Vestas Wind A/S of Denmark—will strengthen and further expand J-Power's foundation as a wind power developer by integrating MHI's accumulated wind power expertise. This collaboration is expected to accelerate the future expansion of J-Power's wind power development activities and the strengthening of its technical and maintenance capabilities, leading to further growth. MHI is convinced that this will not only provide customers with greater value but also offer new opportunities for growth and development to employees engaged in this business.

(1) "MHI Reaches a Basic Agreement with J-POWER on the Transfer of its Domestic Onshore Wind Power Business" https://www.mhi.com/news/25110702.html
(2) "(Update on Disclosed Matter) Notice Regarding the Conclusion of an Absorption-type Split Agreement for the Succession of Business to a Subsidiary via Company Split (Simplified Absorption-type Split) and a Share Transfer Agreement for Shares in the Said Subsidiary" https://www.mhi.com/notice/notice_260210.html

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com 

TOKYO, Mar 31, 2026 - (JCN Newswire) - Leinfelden Echterdingen and Kirchheim u. Teck, Germany / Gothenburg, Sweden / Tokyo, Japan―Daimler Truck AG (Daimler Truck), the Volvo Group (Volvo), cellcentric and Toyota Motor Corporation (Toyota) have signed a non-binding agreement to cooperate in the fuel cell system joint venture cellcentric. The three companies intend to collaborate based on an equal shareholding with Toyota as the third joint venture partner to cellcentric. The combination of the parties' complementary experience and know-how will support and advance their joint objective to develop, produce and commercialise fuel cell systems for heavy-duty vehicles and other heavy-duty applications with comparable requirements. Additionally, Toyota and cellcentric intend to jointly manage the development and production of fuel cell unit cells―the core component of fuel cell systems―and directly linked architecture and control elements with the aim of creating competitive products based on the technologies of both companies.

By combining Daimler Truck and Volvo's extensive commercial vehicle expertise with Toyota's fuel cell development, production technology, and manufacturing experience the aim is to further strengthen cellcentric's technological advantage and market competitiveness. It is intended that cellcentric will be the joint centre of competence that develops, produces and commercialises fuel cell systems for heavy-duty on- and off-road transport and other heavy-duty applications with comparable requirements. Furthermore, through collaboration with industry associations and partners across the entire hydrogen value chain, the partners aim to actively support the development of hydrogen supply and infrastructure in the early stages.

Daimler Truck, Volvo and Toyota have positioned hydrogen as one of the key energy sources to decarbonise transport and will advance technological innovation in fuel cell systems through cellcentric thereby contributing to the realisation of a hydrogen society.

Karin Rådström, President & CEO, Daimler Truck:"We are proud that Toyota plans to join cellcentric as a shareholder. This will enable us to strengthen development and further scale hydrogen technology, which we believe complements battery-electric drives in decarbonising transport".

Andreas Gorbach, Daimler Truck Board Member responsible for Truck Technology and former cellcentric CEO:"Joining forces with the world's largest automotive manufacturer and fuel cell pioneer is a privilege for us―and a game changer in making hydrogen in transportation a reality and cellcentric the go to place for fuel cell technology in commercial vehicles worldwide."

Martin Lundstedt, President and CEO, Volvo Group:"We are thrilled to explore this collaboration with Toyota, so that we through cellcentric can accelerate and create critical mass for hydrogen applications. This is an important signal to customers, suppliers, and others in the ecosystem. Given the importance of accelerating the transformation into net-zero transportation, the need of great companies coming together and collaborating is more important than ever. Welcoming Toyota onboard will be a big leap towards realising decarbonisation of our industries."

Koji, Sato, President and CEO, Toyota:"We are deeply grateful for the opportunity to soon be joining Daimler Truck and Volvo Group as partners in building a hydrogen society. cellcentric which possess deep expertise in commercial fields together with Toyota's over 30 years of fuel-cell development in the passenger car sector, can combine their strengths to deliver one of the world-leading fuel cell systems for heavy commercial vehicles. Toyota will continue to contribute to realising a hydrogen society alongside like-minded partners."

"We are extremely proud that Toyota intends to join as a shareholder of cellcentric―a great sign of trust in our company from one of the world's leading automotive companies. Together, in this new set-up, we look forward to seizing the opportunity to significantly improve our company across the entire value chain."―Nicholas Loughlan, Managing Director and CTO, cellcentric

(Left to right) Karin Rådström, President and CEO of Daimler Truck, Koji Sato, President of Toyota Motor Corporation, Martin Lundstedt, President and CEO of Volvo Group

Independent entity with equal partners

Daimler Truck, Volvo and Toyota aim for an equal shareholding in cellcentric, which will continue to operate as an independent and autonomous entity, serving a wide range of customers across heavy-duty on- and off- road transport as well as heavy-duty stationary applications. To achieve this equal shareholder structure, Toyota plans to participate in a capital increase in cellcentric by investing in the company. Daimler Truck, Volvo and Toyota will continue to compete independently in all other areas of their respective businesses. The collaboration brings together complementary capacities to achieve the scale and investment efficiency necessary to commercialise competitive fuel cell systems.

In order to secure hydrogen fuel cells as one of the key technologies to support the decarbonisation of transport worldwide, cooperation has become increasingly necessary. Moreover, this step aims at contributing to the long-term vision of the European Green Deal objectives and the hydrogen society act in Japan. Since its early days, hydrogen has been advanced through collaboration among many stakeholders, and cooperation is the foundation for its growth. Together with like-minded partners, the parties intend to share technological developments and address common challenges, with the aim of achieving sustainable and effective implementation of fuel cell systems for heavy-duty applications.

The signed agreement is non-binding. The parties will continue discussions and aim to reach a legally binding agreement, which will be subject to approval by all relevant parties and by the respective boards and regulatory authorities.

About cellcentric

cellcentric develops, produces, and commercialises fuel cell systems for use in heavy-duty commercial vehicles and other applications with comparable requirements. cellcentric is a joint venture of Daimler Truck AG and the Volvo Group founded in 2021. The company leverages the know-how and extensive experience gained from decades of developing fuel cell systems by its predecessor companies. cellcentric's goal is to become a global manufacturer and tier 1 supplier of fuel cell systems and thus make a contribution to climate-neutral and sustainable transportation. More than 560 highly qualified employees are continuously advancing cellcentric's state-of-the-art fuel cell technology. They work in interdisciplinary teams at sites in Kirchheim/Teck, Esslingen, Stuttgart (Germany) and Burnaby (Canada). Roughly 700 individual patents underline cellcentric's leading role in fuel cell technology development.